SMEs provide 70 percent jobs in Cambodia

SMEs provide 70 percent jobs in Cambodia


The Royal Government of Cambodia is committed to promoting small and medium enterprises (SMEs) which are the backbone of the national economy, providing 70 percent of jobs and contributing 58 percent to the GDP.

While reiterating this commitment, recently, Hem Vanndy, Minister of Industry, Science, Technology and Innovation also praised the role of Khmer Enterprise in supporting startups and SMEs in various stages of their growth. The minister was presiding over an event in Phnom Penh to distribute the financing package to 38 SMEs to help them expand their businesses.

Khmer Enterprise organised a handover ceremony for distributing financing packages to 38 new businesses and SMEs on April 5 with the aim of empowering these enterprises to restore business balance, strengthen operations and increase export potential, said a statement.

According to the minister, Khmer Enterprise has to its credit several achievements and it will continue the mission to strengthen the entrepreneurial ecosystem in the country with a special focus on SMEs.

“Startups and SMEs are the priority of the Royal Government. Through technical assistance and financing mechanisms, Khmer Enterprise is empowering local companies by enhancing their competitiveness and expanding their markets so that they can contribute more to job creation and Cambodia’s economic growth,” the minister said.

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Reporter: Manoj Mathew

Publication date: April 8, 2024

News: Khmer Times